Remote working has removed location as the top hiring consideration for senior executives, with 76% of employers now more likely to hire out of city or out of state, according to the results of a US survey.
A March 2021 poll of more than 200 hiring managers by Talent Works found that 90% of senior executives now expect to work from home.
The survey also revealed that 40% of recruitment budgets have increased over the past 12 months in response to 70% of managers finding it more difficult to hire good quality candidates during the covid-19 pandemic.
To attract new hires and reduce staff turnover, 77% of employers have adjusted their monetary and non-monetary benefits during the pandemic to reflect changes in candidates’ priorities, while a further 16% plan to make changes in the future.
“Now more than ever, companies are going where the talent is, and hiring them to work remotely, not waiting for talent to come to them, to work in-person,” said Jenny Dearborn, chief people officer at email marketing platform Klaviyo.
“Instead of hiring the best leader who’ll make the commitment to commute into an office every day, now we’re saying, let's hire the best leader in our time zone, or in the country, or the world.”
Jody Robie, senior vice-president at Talent Works, commented: “In the US, the pandemic has fundamentally changed how businesses are attracting top talent in what has become an even more crowded market.
“Companies are reconsidering their recruitment strategies, and, as the research shows, with location less of an issue, many are casting their nets wider to capitalise on bigger talent pools in markets they may not have considered before.”
Opinion on the long-term viability of remote working remains mixed. Although the chief executive of Goldman Sachs, David Solomon, described home working as an “aberration” an increasing number of large employers are warming to staff working from home post-covid.
In a recent letter to shareholders, JP Morgan’s chief executive, Jamie Dimon, said 10% of the US investment bank’s 255,000 workers may work from home full-time, while reports suggest HSBC is considering the working arrangement of its 1,200 UK call centre staff.
Elsewhere, building society Nationwide is to let all of its 13,000 employees work from home permanently, while global law firm Dentons is to offer permanent home working for its UK, Ireland, and Middle East-based staff.
By contrast, in the tech sector, Microsoft is to allow its workers to work from home for at least part of the time, according to a blog post by its executive vice-president Kurt DelBene, and Google’s head of people operations, Fiona Cicconi, has told staff that those wishing to work from home for more than 14 days would have to apply to do so and must live within commuting distance of a Google workplace.